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Jackson Company engaged in the following investment transactions during the current year, Feb. 17 Purchased 540 shares of Medical Company common stock for $25 per

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Jackson Company engaged in the following investment transactions during the current year, Feb. 17 Purchased 540 shares of Medical Company common stock for $25 per share plus a brokerage commission of so. Jackson does not have significant influence over Medical April 1 Bought 34,000 of the 100,000 outstanding shares of Olde Company for $340,000. Goodwill of $84,000 was included in the price June 25 Received a $1.10 per share dividend on Medical Company stock. June 30 Olde company reported second-quarter profits of $24,000. Oet. 1 Purchased 2,400 bonds of Alpha Company for $16 per bond plus a brokerage fee of $440. These bonds are classified as securities available-for-sale. Dec. 31 Medical co. shares are selling for $30 and Alpha bonds are selling for $13. Required: Prepare the appropriate journal entries to record the transactions for the year, including year-end adjustments. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 1 5 6 7 > Record the purchase of the Medical Company common stock Note: Enter debits before credits. General Journal Debit Credit Date Feb 17

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